January is not typically a kind month to the home renovation sector. It's too cold. Plus, post-holiday bills pour in. Not this year. January promises to be a blockbuster month for home renovations as people race to finish projects before the federal government's home renovation tax credit expires at the end of the month. It's [...]
Tavia Grant Inflation in Canada remains tame, giving the country's central bank little reason to budge on its commitment to keep interest rates low until mid-year. Consumer prices rose a less-than-expected 1.3 per cent in December from a year earlier after a 1-per-cent pace in November. Less volatile core prices, which the Bank of Canada [...]
| Monday, 18 January 2010 The Canadian housing market has roared into the new year at top speed, with existing home sales activity reaching the highest level ever for December, and with prices still rising. According to statistics by the Canadian Real Estate Association, residential sales numbered 27,744 units in December 2009, a whopping 72 [...]
A Bank of Canada official called talks of a Canadian housing bubble premature in a speech in Edmonton Monday, adding higher interest rates are not the solution to cooling the current surge in housing demand and prices. "If the bank were to raise interest rates to cool the housing market now - when inflation is [...]
Steve Ladurantaye Toronto — Globe and Mail Update Published on Monday, Jan. 11, 2010 8:30AM EST Last updated on Monday, Jan. 11, 2010 10:19AM EST The “fever” in the resale home market has spread to those who build new homes, with new starts outpacing expectations in December. Economists had expected new housing starts to rise [...]
ALEX CARRICK Chief Economist, CanaData The housing market in Canada has been stronger in the second half of 2009 than was widely anticipated. That has been particularly true for residential resales. The first quarter of 2009 was nearly disastrous for the existing home market, but all of that turned around in late spring and early [...]
December is here, and that means it's time to shop. Below are a few gift ideas for that financially-savvy person in your life: 1. Get rich reading. You can never brush up too much on your financial knowledge - which is why books are always a good idea for those who are interested in making [...]
Homeowners who purchase properties with less than 20% down can take advantage of today's low interest rates -- thanks to mortgage default insurance. This insurance, which is provided by Canada Mortgage and Housing Corporation (CMHC), Genworth Financial Canada and AIG United Guaranty, provides lenders with the protection they need to lend these high ratio mortgages. [...]
By Derek Abma, Canwest News ServiceDecember 4, 2009 OTTAWA - No changes in the numbers are expected this coming week when the Bank of Canada issues a decision on interest rates on Tuesday, but that doesn't mean it won't be interesting. The central bank's benchmark interest rate is expected to remain at an all- time [...]
Is Canada's housing market overvalued? According to the International Monetary Fund (IMF) - an international organization that seeks to ensure global financial stability - the answer is 'not really'. The organization's recent working paper, which was released in October, reveals that while many parts of the country were reaching levels of housing overvaluation in 2007, [...]